A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.

November 21, 2005

You know, Warren Buffet said is his last report to shareholders that he's sitting on his billions in cash at Berkshire, waiting for the bubble to pop so that he can swoop in and buy real estate at distressed prices too...

Here's what Freepers are saying about the housing bubble and folks taking on unsustainable debt:

It is time for the greedy and the stupid to suffer. I'll be right their to cash them out of their debt and take their property for a HUGE discount.

Bankruptcy laws were changed just on time!

Exactly. Now people will have to pay what they owe.

I have a friend that did just that when property prices collapsed in the late 80's here in Austin. Bought Condo's with his credit cards. He's a rich man

14 comments:

It is sad to me to see this once great company GM in such straits. Over the past 10 years those supposedly expert thinkers leading GM made stupid decisions. There is fortunately a leveling fact in the universe of truth. "Truth is independent is the sphere It is placed to act for itself"

Salaries of individuals all over USA have not increased as the price of housing. That is the truth. Consequences are coming and GM is part of those consequences

GM to Cut 30,000 Jobs, Close 9 PlantsMon 10:28AM ET - Associated PressGeneral Motors Corp. will eliminate 30,000 jobs and close nine North American assembly, stamping and powertrain plants by 2008 as part of an effort to get production in line with demand and position the world's biggest automaker to start making money again after absorbing nearly $4 billion in losses so far this year.

(PRWEB) November 21, 2005 -- While the meltdown in the US housing market continues, leading bubble blog HousingPanic.Blogspot.com recaps the news of the week, allowing its readers to understand and react

Hmmm. Even the Rolling Stones didn't leap to the distinction of a "leading" band within weeks of formation.

The real estate market is beginning to remind me of 2001 when I saw some of my high priced telecom stocks go into the tank. Looking back and seeing the peak in the rear view mirror is an easy thing to do once you've past it.

So, how did you get this kind of exposure so quickly? For my part, I was hoping word of mouth would work; I'm not sure it has. Should I be so shameless as to just plaster links to my blog everywhere I can think of?